India's reserve position with the IMF was down $11.5 million to $ 1.9 billion
Traders expect dollar inflows towards Vodafone deal, spectrum auction
The local currency also witnessed its best gain today since the 59 paise jump on January 28
Rupee is not expected to gain much strength and will likely trade around 63.00 rupees to the US dollar
Selling of dollars by exporters, banks help
But dealers see weakening bias during the day
Critics say governments have done too little to remove barriers, cut red tape, upgrade infrastructure
India is better prepared to deal with further US tapering, says Rajan
Earlier the amount of an import transaction for third party payment should not have exceed USD 100,000.
Weakness in other emerging market currencies globally against the dollar weighs
After a brief honeymoon, the tension between Mint Road and North Block is growing once again
State-run banks seen buying dollars for defence needs
High inflation and global turmoil will not make a case for any sustained rally in the near term, but the market may attract bargain hunting periodically
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Foreign exchange reserves include the country's Reserve Tranche position in the International Monetary Fund (IMF)
May depreciate but at slower pace than emerging market peers